http://bankofgeorgia.ge/en/ir/shareholder-information/analyst-corporate-advis

Bank of Georgia is Georgia’s is the leading bank in Georgia, with more than a third of the market share in Georgia based on total assets, total loans, total deposits and total shareholders’ equity. The bank offers a broad range retail banking, corporate banking, wealth management, brokerage and insurance services to its clients. As of 31 March 2012, the Bank served approximately one million client accounts through one of the largest distribution networks in Georgia, with 164 branches, including full-service flagship branches service centres and smaller-scale outlets, the country’s largest ATM network, comprising 431 ATMs, 104 self service terminals and a full-service remote banking platform and a modern call center.

Selected key elements of the Bank of Georgia’s strategy are to maintain its leading position in the growing and still under-penetrated Georgian banking market, focus on profitable growth, increase the Bank's loan portfolio while maintaining asset quality, and to capture growth and synergies in the Georgian insurance, healthcare and affordable housing sectors.

Bank of Georgia’s UK incorporated holding company Bank of Georgia Holdings plc is listed on the main market of the London Stock Exchange (BGEO:LN). Bank of Georgia remains to be the only Georgian entity to be rated by all three global rating agencies: ‘BB-/B’ from Standard & Poor’s, ‘B1/NP’ (FC) & ‘Ba3/NP’ (LC) from Moody’s and ‘BB-/B’ from Fitch Ratings.

JSC Bank of Georgia’s UK incorporated holding company Bank of Georgia Holdings PLC is listed on the main market of the London Stock Exchange (BGEO LN) since February 2012

From Sm - At last year's third-quarter results (1 Nov 12) Bank of Georgia revealed a 16% jump in revenues in the nine months ending 30 Septto Gel 369.9 million, driven by a9.6% expansion in loan book and 24.4% advance in deposits. By the end of the third quarter the bank's corporate loan book was worthy GEL 1.7 billion, ahead of the 1.6 billion forecast by independent broker Seymour Pierce for the year end. Analysts who might have been holding back on upgrading numbers may feel sufficiently confident to do so in the wake of reassuring finals. The international Monetary Fund (IMF) estimates the country's output grew by 6.5% in 2012and forecasts GDP to expand 5.5% in 2013, well in advance of the low single digit GDP growth rates expected in Western Europe. The IMF has pencilled in 1% growth for the UK this year, 0.3% for France and 0.6% for Germany.

Look forward to broker upgrades

Notice of Results
RNS
RNS Number : 0245Y
Bank of Georgia Holdings PLC
15 February 2013

London, 15 February 2013



Bank of Georgia Holdings PLC notice of Q4 and Full Year 2012 Results



Bank of Georgia Holdings PLC will publish its financial results for Q4 and full year 2012 at 07:00 London time on Tuesday, 19th February 2013. The results announcement will be available on Bank of Georgia Holdings's website at www.bogh.co.uk. An investor/analyst conference call, organised by Bank of Georgia Holdings, will be held on Wednesday, 20th February 2013, at 14:00 UK / 15:00 CET / 10:00 U.S. Eastern Time. The results presentation will be available on the website prior to the call. The duration

BANK OF GEORGIA

HOLDINGS PLC

PRELIMINARY RESULTS ANNOUNCEMENT

2012




· Positive operating leverage maintained with strong profitability

o Net interest margin of 7.9% in 2012, compared to 7.8% in 2011;

§ Q4 2012 NIM increased to 7.8% from 7.3% in Q3 2012.

o Revenue increased by GEL 64.5 million, or 14.9%, y-o-y, to GEL 498.3 million; excluding the benefit of the one-off currency hedge gains in 2011, revenue increased by 21.9%;

§ Q4 2012 revenue grew 11.1% y-o-y to GEL 128.3 million; excluding the benefit of the one-off currency hedge in Q4 2011, Q4 2012 revenue grew 15.5%.

o Positive operating leverage maintained, as operating expenses increased at a lower rate than revenue, up 5.2% y-o-y to GEL 221.2 million; excluding the 2011 one-off gains, operating leverage was 16.7%;

§ Q4 2012 operating expenses were largely flat q-o-q at GEL 54.0 million.

o Cost to Income ratio improved to 44.4% from 48.5% in 2011, and to 42.1% in Q4 2012 from 44.4% in Q3 2012.

o Profit before tax from continuing operations of GEL 212.8 million, up by GEL 40.7 million, or 23.7%; excluding the benefit of one-off currency hedge gains in 2011, profit grew 44.7%.

o Profit for the period increased by GEL 43.8 million, or 32.3%, to GEL 179.6 million.

o Earnings per share (basic) increased by 17.6% to GEL 5.22.

o Return on Average Assets (ROAA) increased to 3.5%, compared to 3.2%.

o Return on Average Equity (ROAE) increased to 19.1%, from 18.3%.

· Strong balance sheet and capital position maintained

o Cost of Funds declined to 7.3% in 2012, compared to 8.0%.

§ Q4 2012 Cost of Funds of 6.6%, down from 7.1% in Q3 2012 and 8.4% in Q4 2011.

o Net loan book increased by 18.2% during the year , while client deposits increased 2.7%, reflecting the Bank's strategy to improve its cost of funding by reducing high interest paying corporate deposits;

§ In US$ terms the net loan book increased by 19.2% reflecting the stable currency position.

§ Retail Banking client deposits grew 15.5%, Wealth Management client deposits grew 33.2%, Corporate Banking declined 17.1%, reflecting the targeted outflow of high-interest paying deposits.

o Cost of Risk increased to 1.3% in 2012 from 0.9% in 2011, reflecting the absence of the previous year's net releases and recoveries and higher provisions in the second half of 2012.

o Strong funding and liquidity position with a Net Loans to Customer Funds ratio of 114.8%. Net Loans to Customer Funds and Long-Term IFI Funding ratio was 91.9%. National Bank of Georgia (NBG) liquidity ratio of 41.1%, compared to 37.8% a year ago and to a 30% minimum requirement by the NBG.

o BIS Tier 1 capital adequacy ratio improved to 22.0%.

o Book Value per Share increased by 16.7% y-o-y to GEL 30.33 (US$18.31/GBP11.38).

o Balance Sheet leverage reduced to 4.3 times at 31 December 2012, compared to 4.7 times at 31 December 2011 and 4.5 times at 30 September 2012.

· Business highlights

o Strong performances from each of the Bank's businesses in Georgia - Corporate Banking and Retail Banking reported continued loan growth and improving efficiencies.

o Retail Banking continues to deliver strong franchise growth, supported by the successful roll-out of the Express Banking strategy in 2012.

o Corporate Banking has delivered strong, well-diversified balance sheet growth over the last 12 months; customer lending grew 23.1%

o Wealth Management continued to expand its client franchise with deposits increasing by 33.2% to GEL 605.2 million during the year.

o Excellent progress in developing the Bank's synergistic businesses: Insurance and Healthcare business expansion through acquisition of Imedi L International. Integration successfully executed, realising annual synergies of GEL 8.7 million; Affordable Housing completed its pilot project of an 123 apartment building realising SBRE's first profit of GEL 1.7 million; a second 522 apartment building project is in progress.



http://www.moneyam.com/action/news/showArticle?id=4540576

Management Reshuffle
RNS
RNS Number : 2896Y
Bank of Georgia Holdings PLC
20 February 2013

London, 20 February 2013





Bank of Georgia announces the adoption of 2013-2016 Executive Compensation Policy; The extension of contracts of Deputy CEOs and management reshuffle



Bank of Georgia Holdings PLC ("BGH") announces that the Board of Directors of BGH and Supervisory Board of JSC Bank of Georgia (the "Bank") have extended the contracts of six Deputy Chief Executive Officers of the Bank and the CEO of Aldagi BCI for a further 2.5 to 3.5 year period starting from 1 May 2013. BGH also announces the adoption of a compensation policy for certain executives of the Bank and its subsidiaries as well as other persons who may join the Bank and be eligible by the resolution of the Supervisory Board of the Bank (the "Compensation Policy") for the three year period ending in January 2016 ("Term of the Policy").



BGH also reports the Bank's executive management reshuffle that will see Archil Gachechiladze, currently Deputy CEO, Corporate Banking replace Vasil Revishvili, currently Deputy CEO, Asset and Wealth Management, whose contract shall not be extended after its expiration in May 2013. Sulkhan Gvalia, currently Deputy CEO, Risk will become Deputy CEO, Corporate Banking. The new appointments will become effective on 1 May 2013. The Bank will be announcing a search for a new Chief Risk Officer. In addition, the Bank announces that Thea Jokhadze, Head of Funding will be leaving the Bank on 20 March 2013, after which the funding functions of the Bank will be undertaken by Macca Ekizashvili, Head of Investor Relations and Funding.



In line with the changes above, the Compensation Policy, as of the date of its adoption, applies to the Chief Executive Officer and Deputy Chief Executive Officers of JSC Bank of Georgia and the CEO of Aldagi BCI, subject to their continuous service with BGH and/or other companies of BGH group ("the Executives").



In May 2013, the Compensation Policy will replace the existing Senior Executive Equity Compensation Policy which has been in place since November 2010. The terms and conditions of the Compensation Policy have remained largely unchanged and are described below.



The Compensation Policy includes a fixed component including a portion payable in cash in the form of salary and a portion payable in long term deferred grants of BGH shares. Under the long-term deferred securities portion of the Compensation Policy, the eligible Executives are awarded, independent of the Executive's performance but subject to their continuous employment, in aggregate 280,000 BGH shares (the "Long Term Deferred Securities") per year with respect to the 2013, 2014 and 2015 compensation years. The Long-Term Deferred Securities will be awarded in January 2014, January 2015 and January 2016, respectively. The awarded Long Term Deferred Securities will be subject to a four-year vesting period. During the first three years after each award, 20% of the awarded Long Term Deferred Securities will vest each year and 40% will vest in the fourth year after each award.



The Compensation Policy also envisages the discretionary grants of securities. Under the discretionary securities portion of the Compensation Policy, subject to the Executives' continuous employment, the Executives may also be awarded additional shares of BGH (the "Discretionary Securities") at the sole discretion of the Supervisory Board of the Bank during the Term of the Policy. The number of the Discretionary Securities to be awarded will be determined annually by the Supervisory Board based on the performance of the Bank and the relevant Executive and will be announced to the Executives by the end of February of the following year. Discretionary Securities will be awarded immediately upon the completion of the annual audit for the reporting year and, subject to certain additional terms and conditions, will be subject to a two-year straight line vesting period.



No annual cash bonuses will be paid to Executives during the Term of the Policy, except that the Compensation Policy envisages cash payments in lieu of the dividends waived in related to the awarded and unvested shares held in trust. Such cash payments will accrue with respect to awarded but unvested shares from the respective dividend payment dates and will be paid to the relevant executive upon the vesting of the relevant awards.



"We are very pleased to have adopted the compensation policy which sets a long-term incentive plan for the top executives of the Bank, facilitates further their motivation, contributing to the overall development of the Bank." commented Al Breach, member of the Supervisory Board and Chairman of Remuneration Committee of Bank of Georgia and BGH.



"With the executive management team reshuffle, we believe, we are putting in place the best management structure to build on past experience and achievements to ensure the continuing success of Bank of Georgia. Our corporate bank is the country's largest corporate lender and our trade finance business captures approximately half of the Georgian trade finance market. Having led the Bank's corporate bank for three and half years, Archil is now entrusted with the development of our asset management business, which we consider one of our main strategic priorities. Sulkhan's eight years experience as a Chief Risk Officer at the Bank and his comprehensive knowledge and understanding of Georgia's corporate universe makes him the right candidate to lead our corporate banking business. I look forward to working with both Sulkhan and Archil in their new capacities," commented Irakli Gilauri, Chief Executive Officer

Surprised by the volume of buying, on this poor markets day.





Consensus recommendation






As of Feb 23, 2013, the consensus forecast amongst 7 polled investment analysts covering Bank of Georgia Holdings PLC advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on Feb 14, 2013. The previous consensus forecast advised investors to purchase equity in Bank of Georgia Holdings PLC.
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http://markets.ft.com/research/Markets/Tearsheets/Forecasts?s=BGEO:LSE

In this weeks IC - Boom time for Bank of Georgia.

Its a pretty pure play on Georgia, where it is the largest bank. Unlike its western counterparts ,however, that leaves it focused on a local economy with serious growth prospects.Georgian GDP should grow 6% this year- that helps to explain the inpressive full year performance. Bank of Georgia shares trade at about book value, aren't pricey

Bank of Georgia Holdings PLC (BGEO:LSE) set a new 52-week high during today's trading session when it reached 1,462. Over this period, the share price is up 51.83%.

As of Mar 15, 2013, the consensus forecast amongst 7 polled investment analysts covering Bank of Georgia Holdings PLC advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on Feb 14, 2013. The previous consensus forecast advised investors to purchase equity in Bank of Georgia Holdings PLC.

Bank of Georgia Holdings PLC (BGEO:LSE) set a new 52-week high during today's trading session when it reached 1,489. Over this period, the share price is up 40.24%.

As of Mar 22, 2013, the consensus forecast amongst 8 polled investment analysts covering Bank of Georgia Holdings PLC advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on Feb 14, 2013. The previous consensus forecast advised investors to purchase equity in Bank of Georgia Holdings PLC

Bank of Georgia Holdings PLC (BGEO:LSE) set a new 52-week high during today's trading session when it reached 1,517. Over this period, the share price is up 44.50%.

A poor market day not even stopping this one today.

As of Mar 27, 2013, the consensus forecast amongst 9 polled investment analysts covering Bank of Georgia Holdings PLC advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on Feb 14, 2013. The previous consensus forecast advised investors to purchase equity in Bank of Georgia Holdings PLC.

Bank of Georgia Holdings PLC (BGEO:LSE) set a new 52-week high during today's trading session when it reached 1,549. Over this period, the share price is up 48.08%.
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Analyst Coverage

http://bogh.co.uk/en/investors/analysts-coverage

Bank of Georgia Holdings PLC (BGEO:LSE) set a new 52-week high during today's trading session when it reached 1,600. Over this period, the share price is up 49.95%.

Bank of Georgia Holdings PLC (BGEO:LSE) set a new 52-week high during today's trading session when it reached 1,626. Over this period, the share price is up 52.33%.

As of Apr 05, 2013, the consensus forecast amongst 9 polled investment analysts covering Bank of Georgia Holdings PLC advises investors to purchase equity in the company. This has been the consensus forecast since the sentiment of investment analysts improved on Apr 03, 2013. The previous consensus forecast advised that Bank of Georgia Holdings PLC would outperform the market.

DC looks brilliant. My god where as it been all my life.

Straight in big time.

cheers appreciated.

ps, could do with you down on the chart thread.

Just keep a close eye on this one, some what on the risky side.

On Friday, Bank of Georgia Holdings PLC (BGEO:LSE) closed at 1,645, 0.30% below its 52-week high of 1,650, set on Apr 05, 2013.